• 2 hours U.S. Moves To Bar Iranians From Investor Visas
  • 1 day Why Germany Is Going To War With Gold
  • 2 days Gold Is Still Cheap Compared To Stocks
  • 3 days Are Cryptocurrencies Funding Terrorism?
  • 3 days Promising Oil Companies To Watch In 2020
  • 4 days Could China's Coronavirus Outbreak Impact U.S. Stocks?
  • 4 days Tesla Stock Continues To Soar
  • 5 days What New Economic Data Reveals About Gold's Trajectory
  • 6 days The Lucrative New Tech Hijacking Your Privacy
  • 6 days The Biggest Loser In The China-U.S. Tariff Tit-For-Tat
  • 7 days Trade War Takes Its Toll On Shipping
  • 9 days Is $90 Oil Possible? An Interview With Jay Park
  • 10 days Billions Of Dollars Are Flooding Into The Flying Taxi Space
  • 10 days Is This The Most Important Energy Project Of 2020?
  • 11 days Startups Are Dying To Give You A Better Death
  • 11 days U.S. Restaurants Are Struggling With Rising Labor Costs
  • 12 days The Banking Bonanza Is Just Getting Started
  • 12 days How The Trade War Ceasefire Will Impact The Energy Industry
  • 13 days Who Is The Most Dangerous Person On The Internet?
  • 13 days SoftBank Sees First Quarterly Loss In 14 Years
Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

  1. Home
  2. Markets
  3. Other

How US Corporations 'Cooperate' With China; Xi's China: A Place Called Hopelessness

In response to Why I'm Never Going to "Two-Bit" China an anonymous reader sent links to a video on how US companies are forced to cooperate with China and an article on "Xi's China" from the Daily Beast.

Both may be a bit over the top, or not, in the eyes of the viewer. Let's start with the video from China Uncensored.


China Tells US Tech Companies to "Cooperate"


Xi's China: A Place Called Hopelessness

Next please consider Xi's China: A Place Called Hopelessness

As China's President Xi Jinping visits the United States this week, Americans will have little sense what it's like for his people back home. His top internet censor, Lu Wei, organized a technology summit in Seattle earlier this week. Alibaba's Jack Ma and Apple's Tim Cook have been in tow, in addition to other tech giants. After a round of diplomatic pomp in Washington D.C., President Xi will address the United Nations General Assembly in New York on Monday before returning to Beijing in time for National Day celebrations at home. His message will be of success in the present and for the future.

Ask the ant tribe. They're educated, young professionals who live in near-poverty conditions, grinding away at soul-crushing jobs -- not careers -- that yield no personal satisfaction and zero financial growth. Typically from rural areas, most have settled in northwest Beijing, where their living quarters are cramped and they have no personal space. They're smart, they work hard, yet receive no recognition and can't shake off anonymity. So, people call them ants.

This year, nearly 7.5 million fresh Chinese university graduates entered the workforce, or attempted to. But because of the massive influx of new labor, increased year on year, competition has become cutthroat even as salaries have fallen, in some cases, lower than the wages received by factory workers. Cost of living continues to increase in tier-one cities, and prospects for members of the ant tribe eventually to own their own houses are slim. "I'll never be able to get married and provide for a family. I feel like I'll always be stuck in these six square meters," groaned Xiao. Rent is ¥1300, or about US$200, a month. That may not seem like much, but after other expenses, most of Xiao's ¥3,300 ($520) paycheck is gone.

In the fantasy world that the Chinese Communist Party has created for its revised history books, the state takes care of every citizen. But the ant tribe knows firsthand that this is not the case. Calling the Chinese president by his nickname, Xiao said, "Xi Dada says the youth are this country's future, but most of us don't have any opportunities. We graduated from university but there aren't any jobs available to us, at least not in the subjects we studied."

Xi Jinping's crusade against corruption has "swatted flies" and "hunted tigers," who conveniently are the Chinese leader's political enemies. China's millionaires can't leave the country fast enough. China's rural areas have a gaping security vacuum; forced demolitions, evictions, and land seizures still take place frequently, at times with deadly results. Soon, the CCP will begin transforming 82,000 square miles of land around Beijing into a megacity that's about the size of Kansas, and it will hold over 100 million people, or more than one-third of America's population. What will the ant tribe look like when that time comes? What does it mean for Chinese society when routine overtakes imagination, if it hasn't already?

China is hardly the miracle its proponents make it out to be. And it's system of government outright sucks.

Make statements like that in China and you will get arrested, or worse.

 

Back to homepage

Leave a comment

Leave a comment